TIL Desk/Business/Mumbai/ A Mumbai court on Saturday sent former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar to CBI custody till December 26 in a case pertaining to alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The Central Bureau of Investigation also applied to the court seeking permission to invoke the charge of `criminal breach of trust’ under the Indian Penal Code against them.
The defence lawyer, on the other hand, claimed that ICICI Bank had stated in the past that it had not suffered any wrongful loss, and pointed out that the “main borrower” had not been arrested yet. Chanda Kochhar and her husband Deepak Kochhar were arrested by the central probe agency after brief interrogation at its Delhi office on Friday.
On Saturday, they were produced in Mumbai before special holiday court judge S M Menjonge who remanded them in the custody of the CBI. The agency has alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Venugopal Dhoot in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.
